Innovation Processes and Entrepreneurial Culture for Radical Innovations
Author:Ľubica Knošková
JEL:O30, M10
DOI:
Keywords:innovation processes, radical innovations, entrepreneurial culture, innovation
management, knowledge management,
Abstract:
To survive and prosper, the organizations need to embed the processes and mechanisms to
discover major technology and consumer trends and respond to them through new growth
areas. Based on profound literature review providing insight into organizational factors that
affect firms’ ability to manage innovation this paper asks which innovation processes and
entrepreneurial culture support radical innovations. The aim of the paper is to specify the
company behaviour that leads to innovative outputs with high level of novelty in country
specific context of Slovakia. We conducted two-stage empirical research in 2009 and 2014
mapping companies’ approach to innovation management during the last 10 years. After
surveying 102 firms in the first stage and 287 firms in the second stage we derive success
factors for radical innovations. The findings demonstrate growing importance of corporate
strategic orientation, highly developed innovation processes and parallel mechanisms for
radical innovation, ability to manage internally and externally open innovation and support
entrepreneurial culture. This study makes unique contribution to the understanding of
innovation processes, organizational factors, and their significance and dynamics. It should
attract managerial attention to recognize the importance of innovation management factors
for building firm’s innovation competency.